Phychem Technologies IPO Analysis & Review

Quick Answers

What is the Phychem Technologies IPO GMP today? The Phychem Technologies IPO GMP is ₹3 as of 31/8/2026, 8:27:20 am. The IPO price band is ₹51 - ₹54. GMP represents an unofficial grey-market indication and does not guarantee the listing price.

When does Phychem Technologies IPO open? The Phychem Technologies IPO opens on 2026-08-31 and closes on 2026-09-02.

What is the Phychem Technologies IPO subscription status? The overall subscription is 1.09x.

Key IPO Information

ViewIPO AI Analysis Score

The Phychem Technologies IPO scored 61/100 (Moderate Risk) in our deep analysis.

Frequently Asked Questions

What is the primary business of Phychem Technologies Limited?

Phychem Technologies Limited manufactures rotational moulding compounds (custom polyethylene compounds using LLDPE, HDPE, and specialty additives) and custom-moulded tanks, alongside providing rotolining, pulverising services, and chemical distribution.

What is the price band and minimum investment for the Phychem Technologies IPO?

The price band for the IPO is set at ₹51 to ₹54 per share. The lot size is 2,000 shares, requiring a minimum retail investment of ₹2,04,000 at the upper price band.

How will Phychem Technologies use the funds raised from the IPO?

The company plans to allocate ₹5.14 crore for capital expenditure on plant and machinery, ₹2.50 crore for partial or full repayment of borrowings, with the remaining balance for working capital and general corporate purposes.

Where is the manufacturing plant of Phychem Technologies located?

The manufacturing facility is located at Khatwad, Dindori, Nashik in Maharashtra, India.

What are the key financial performance metrics of Phychem Technologies for FY26?

For FY26, the company reported a revenue of ₹56.46 crore, PAT of ₹4.09 crore, EBITDA margin of 10.78%, PAT margin of 7.24%, ROE of 34.82%, ROCE of 32.73%, and an EPS of ₹5.42.

Who are the lead managers and registrar for the IPO?

Hem Securities Limited is the Book Running Lead Manager, MUFG Intime India Private Limited is the Registrar to the issue, and Hem Finlease Private Limited acts as the Market Maker.

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Home›India›Phychem Technologies ()
Phychem Technologies Logo

Phychem TechnologiesNSE SME / BSE SME:

Analyzed by ViewIPO Financial Research Team
Plastics & Chemicals ManufacturingIndiaFiled 2026-08-31Listing 2026-09-07Size ₹14.94Cr
Lot Size 2000
Live GMP
₹3 (+5.56%)
Live Subscription
1.09x Total
Check Allotment
Status Link

Is Phychem Technologies IPO Good? Quick Verdict

Phychem Technologies IPO scored 61/100 (Moderate Risk) in our deep analysis. The strongest pillar is Financial at 72/100, while Competition is the primary concern at 45/100. Phychem Technologies Limited demonstrates strong return ratios and steady profit growth, but presents concentration risks in supplier dependence and regional revenue.

IPO Score
61/100
Moderate Risk

Quick Verdict

Impressive return profile with ROE of 34.82% and ROCE of 32.73% in FY26.
Low leverage maintained with a Debt-to-Equity ratio of 0.43x.
High supplier reliance with top 10 suppliers contributing 89.07% of purchases in FY26.
Geographic concentration with 54.60% of FY26 revenue originating from Maharashtra.

Company Snapshot

Revenue (TTM)
₹56.46Cr↑ 12.25% YoY
Profitability
PositiveNet Income ₹4.09Cr
Gross Margin
— 
Market Cap
—Pending Data
IPO Size
₹14.94Cr 
Industry
Plastics & Chemicals Manufacturing 
P/E Ratio
—Pending Data
Return on Equity
34.82%Profitability
Debt to Equity
0.43xLeverage
EPS
₹5.42Earnings Per Share
NAV
₹18.29Net Asset Value
RoNW
29.66%Return on Net Worth

Risk Breakdown

Governance
70
Moderate
Financial
72
Moderate
Valuation
50
Expensive
Competition
45
Expensive
Dilution
60
Moderate
Promoter / Mgmt
60
Moderate

AI Summary

Phychem Technologies Limited is an Indian manufacturer of rotational moulding compounds and custom polyethylene-based products supplying industries such as construction, automotive, and agriculture. For FY26, Phychem Technologies generated ₹56.46 crore in operational revenue with a net profit of ₹4.09 crore, delivering strong return metrics including a 34.82% ROE and 32.73% ROCE. However, the company faces operational exposure from significant supplier concentration and lack of long-term customer contracts. The ₹14.58 crore public offering is structured to fund working capital, capital expenditure for machinery, and partial debt repayment.

Overall Verdict: Phychem Technologies Limited demonstrates strong return ratios and steady profit growth, but presents concentration risks in supplier dependence and regional revenue.

Key Highlights

  • •Operates a primary manufacturing facility at Khatwad, Dindori, Nashik, Maharashtra equipped with rotational moulding machines, extruders, and pulverisers.
  • •Revenue grew consistently from ₹46.97 Cr in FY24 to ₹56.46 Cr in FY26.
  • •Profit after tax grew substantially from ₹1.69 Cr in FY24 to ₹4.09 Cr in FY26.
  • •Exports products to global destinations including Guinea, Mauritius, Cameroon, Guinea-Bissau, and Poland (23.32% export revenue in FY26).
  • •ISO 9001:2015 certified company holding a ZED Bronze certification and operating a zero liquid discharge facility with a 177 kWp rooftop solar installation.
  • •Expanded total customer base from 39 customers in FY24 to 289 (24 global and 265 domestic) in FY26.

Financial Performance

Revenue (Annual)

↑ +12.2% YoY

INR in Crores

Net Income (Annual)

↑ +44.0% YoY

INR in Crores

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT

IPO Timeline

IPO Opens2026-08-31
IPO Closes2026-09-02
Basis of Allotment2026-09-03
Refunds & Demat2026-09-04
Listing Date2026-09-07

Valuation Analysis

IPO Price₹51 - ₹54
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

IPO DNA

Growth
58
Governance
70
Profitability
72
Valuation
50
Competition
45
Execution
60

Pros vs Cons

Pros

  • Robust financial trajectory with revenue rising to ₹56.46 Cr and net profit reaching ₹4.09 Cr in FY26.
  • High return on capital with ROE of 34.82% and ROCE of 32.73%.
  • Conservative leverage position with a Debt-to-Equity ratio of 0.43x.
  • Diversified end-market exposure serving construction, automotive, marine, agriculture, and chemical industries.

Cons

  • Significant supplier concentration with top 10 suppliers contributing 89.07% of inputs in FY26.
  • High customer concentration where top 10 clients generate 52.99% of revenue, without long-term supply contracts.
  • Geographic dependency on Maharashtra for 54.60% of FY26 revenue from operations.
  • Foreign exchange exposure on exports (23.32% of operational revenue in FY26) without formal hedging strategies.

Financial Health

Revenue Growth
12.2% growth in FY26 (Good)
Debt Level
Debt-to-Equity of 0.43x (Excellent)
Cash & Equivalents
Undisclosed (Moderate)

Institutional Signals

Anchor Investors
Undisclosed
VC Backing Tier
None
Strategic Partners
None

Phychem Technologies IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Phychem Technologies IPO — Frequently Asked Questions

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IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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Frequently Asked Questions about Phychem Technologies

What is the expected listing price of Phychem Technologies?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Phychem Technologies on our Live GMP Tracker.